A.M. Best Upgrades Credit Ratings of State Farm Lloyds; Affirms Credit Ratings of State Farm Mutual Automobile Insurance Company and Other P/C Subsidiaries
State Farm Lloyds’ ratings upgrade is based on the company’s strengthened risk-adjusted capitalization, favorable earnings in most of the past five years, and the benefits it derives from being a member of the
The ratings of State Farm Mutual reflect its strong risk-adjusted capitalization, generally favorable earnings and superior business profile. Risk-adjusted capitalization continues to be supportive of the company’s ratings, and earnings have been positive in most years despite rising automobile personal injury claims costs and the low interest rate environment. In addition, State Farm Mutual, its subsidiary and affiliated property/casualty and life insurance companies comprise the largest personal lines insurance organization in
Banking and other financial services are offered through affiliates to further enhance the sale of personal lines products.
These positive rating aspects are offset in part by the
The outlook for the ratings of State Farm Mutual, its property/casualty subsidiaries and affiliate may be subject to negative rating pressures should the company’s operating performance and capitalization levels significantly deteriorate. However, improving operating trends that lead to sustained capital appreciation without excessive growth would further stabilize the organization’s ratings.
This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and
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